Home Loan - plz clarify on the income tax benefit for this scenario?

[rijbadgett]

anyone please explain. Thanks

[Madhura]

anyone please explain. Thanks

What is your query?

[amanjawanda]

I think you want to know about Income tax benefits Clearly.

There are two sections of the “Income Tax Act” of India which will allow you to get a deduction if you have taken a home loan; this of course ignores home loans from “private sources” (Friend, Family, etc). The two sections are here under.

• Sec 24(b) of the Income Tax Act, 1961
• Sec 80(c) of the Income Tax Act, 1961

*The two Sections are explained above